Intrinsic value of Planet Fitness Cl A - PLNT

Previous Close

$33.74

  Intrinsic Value

$6.14

stock screener

  Rating & Target

str. sell

-82%

Previous close

$33.74

 
Intrinsic value

$6.14

 
Up/down potential

-82%

 
Rating

str. sell

We calculate the intrinsic value of PLNT stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  14.20
  12.60
  11.84
  11.16
  10.54
  9.99
  9.49
  9.04
  8.64
  8.27
  7.94
  7.65
  7.38
  7.15
  6.93
  6.74
  6.56
  6.41
  6.27
  6.14
  6.03
  5.92
  5.83
  5.75
  5.67
  5.61
  5.55
  5.49
  5.44
  5.40
  5.36
Revenue, $m
  378
  426
  476
  529
  585
  643
  704
  768
  834
  903
  975
  1,050
  1,127
  1,208
  1,291
  1,379
  1,469
  1,563
  1,661
  1,763
  1,869
  1,980
  2,096
  2,216
  2,342
  2,473
  2,610
  2,754
  2,903
  3,060
  3,224
Variable operating expenses, $m
 
  64
  70
  75
  82
  88
  95
  102
  109
  116
  124
  115
  123
  132
  141
  151
  160
  171
  181
  192
  204
  216
  229
  242
  256
  270
  285
  301
  317
  334
  352
Fixed operating expenses, $m
 
  216
  222
  227
  233
  239
  245
  251
  257
  264
  270
  277
  284
  291
  298
  306
  313
  321
  329
  337
  346
  354
  363
  372
  382
  391
  401
  411
  421
  432
  443
Total operating expenses, $m
  263
  280
  292
  302
  315
  327
  340
  353
  366
  380
  394
  392
  407
  423
  439
  457
  473
  492
  510
  529
  550
  570
  592
  614
  638
  661
  686
  712
  738
  766
  795
Operating income, $m
  116
  145
  185
  226
  270
  317
  365
  416
  468
  524
  581
  658
  720
  785
  852
  922
  995
  1,071
  1,151
  1,233
  1,320
  1,410
  1,504
  1,602
  1,705
  1,812
  1,924
  2,042
  2,165
  2,294
  2,430
EBITDA, $m
  148
  186
  228
  273
  320
  370
  421
  475
  532
  591
  652
  716
  782
  851
  923
  998
  1,076
  1,157
  1,242
  1,330
  1,422
  1,518
  1,618
  1,723
  1,833
  1,947
  2,067
  2,193
  2,324
  2,462
  2,606
Interest expense (income), $m
  24
  28
  22
  27
  32
  37
  42
  48
  53
  60
  66
  72
  79
  86
  94
  101
  109
  118
  126
  135
  145
  154
  164
  175
  186
  198
  210
  222
  235
  249
  263
Earnings before tax, $m
  90
  117
  163
  200
  239
  280
  323
  368
  415
  464
  515
  586
  641
  699
  759
  821
  886
  954
  1,024
  1,098
  1,175
  1,255
  1,339
  1,427
  1,518
  1,614
  1,715
  1,820
  1,930
  2,045
  2,166
Tax expense, $m
  19
  32
  44
  54
  65
  76
  87
  99
  112
  125
  139
  158
  173
  189
  205
  222
  239
  258
  277
  296
  317
  339
  362
  385
  410
  436
  463
  491
  521
  552
  585
Net income, $m
  22
  85
  119
  146
  174
  204
  236
  269
  303
  339
  376
  428
  468
  510
  554
  599
  647
  696
  748
  802
  858
  916
  978
  1,042
  1,108
  1,178
  1,252
  1,328
  1,409
  1,493
  1,581

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  40
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,001
  1,083
  1,211
  1,346
  1,488
  1,637
  1,792
  1,954
  2,123
  2,299
  2,481
  2,671
  2,868
  3,073
  3,286
  3,508
  3,738
  3,978
  4,227
  4,486
  4,757
  5,039
  5,332
  5,639
  5,959
  6,293
  6,642
  7,007
  7,388
  7,787
  8,204
Adjusted assets (=assets-cash), $m
  961
  1,083
  1,211
  1,346
  1,488
  1,637
  1,792
  1,954
  2,123
  2,299
  2,481
  2,671
  2,868
  3,073
  3,286
  3,508
  3,738
  3,978
  4,227
  4,486
  4,757
  5,039
  5,332
  5,639
  5,959
  6,293
  6,642
  7,007
  7,388
  7,787
  8,204
Revenue / Adjusted assets
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
Average production assets, $m
  323
  363
  406
  451
  499
  549
  601
  655
  712
  771
  832
  895
  962
  1,030
  1,102
  1,176
  1,253
  1,333
  1,417
  1,504
  1,595
  1,689
  1,788
  1,890
  1,998
  2,110
  2,227
  2,349
  2,477
  2,610
  2,750
Working capital, $m
  8
  -28
  -31
  -35
  -39
  -42
  -46
  -51
  -55
  -60
  -64
  -69
  -74
  -80
  -85
  -91
  -97
  -103
  -110
  -116
  -123
  -131
  -138
  -146
  -155
  -163
  -172
  -182
  -192
  -202
  -213
Total debt, $m
  709
  552
  667
  789
  916
  1,050
  1,190
  1,336
  1,488
  1,646
  1,810
  1,981
  2,158
  2,343
  2,535
  2,734
  2,941
  3,157
  3,381
  3,615
  3,858
  4,112
  4,376
  4,652
  4,940
  5,241
  5,555
  5,883
  6,226
  6,585
  6,960
Total liabilities, $m
  1,132
  975
  1,090
  1,212
  1,339
  1,473
  1,613
  1,759
  1,911
  2,069
  2,233
  2,404
  2,581
  2,766
  2,958
  3,157
  3,364
  3,580
  3,804
  4,038
  4,281
  4,535
  4,799
  5,075
  5,363
  5,664
  5,978
  6,306
  6,649
  7,008
  7,383
Total equity, $m
  -131
  108
  121
  135
  149
  164
  179
  195
  212
  230
  248
  267
  287
  307
  329
  351
  374
  398
  423
  449
  476
  504
  533
  564
  596
  629
  664
  701
  739
  779
  820
Total liabilities and equity, $m
  1,001
  1,083
  1,211
  1,347
  1,488
  1,637
  1,792
  1,954
  2,123
  2,299
  2,481
  2,671
  2,868
  3,073
  3,287
  3,508
  3,738
  3,978
  4,227
  4,487
  4,757
  5,039
  5,332
  5,639
  5,959
  6,293
  6,642
  7,007
  7,388
  7,787
  8,203
Debt-to-equity ratio
  -5.412
  5.090
  5.510
  5.860
  6.160
  6.420
  6.640
  6.840
  7.010
  7.160
  7.300
  7.420
  7.530
  7.620
  7.710
  7.790
  7.870
  7.940
  8.000
  8.060
  8.110
  8.160
  8.210
  8.250
  8.290
  8.330
  8.360
  8.400
  8.430
  8.460
  8.480
Adjusted equity ratio
  -0.178
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  22
  85
  119
  146
  174
  204
  236
  269
  303
  339
  376
  428
  468
  510
  554
  599
  647
  696
  748
  802
  858
  916
  978
  1,042
  1,108
  1,178
  1,252
  1,328
  1,409
  1,493
  1,581
Depreciation, amort., depletion, $m
  32
  41
  44
  47
  50
  53
  56
  60
  63
  67
  71
  57
  62
  66
  71
  75
  80
  85
  91
  96
  102
  108
  115
  121
  128
  135
  143
  151
  159
  167
  176
Funds from operations, $m
  92
  126
  162
  192
  224
  257
  292
  328
  366
  406
  447
  485
  530
  576
  624
  675
  727
  782
  839
  898
  960
  1,025
  1,092
  1,163
  1,236
  1,314
  1,394
  1,479
  1,568
  1,660
  1,758
Change in working capital, $m
  -17
  -3
  -3
  -4
  -4
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -9
  -10
  -10
  -11
Cash from operations, $m
  109
  130
  166
  196
  228
  261
  296
  333
  371
  410
  452
  490
  535
  581
  630
  680
  733
  788
  845
  905
  967
  1,032
  1,100
  1,171
  1,245
  1,322
  1,404
  1,488
  1,577
  1,671
  1,768
Maintenance CAPEX, $m
  0
  -21
  -23
  -26
  -29
  -32
  -35
  -39
  -42
  -46
  -49
  -53
  -57
  -62
  -66
  -71
  -75
  -80
  -85
  -91
  -96
  -102
  -108
  -115
  -121
  -128
  -135
  -143
  -151
  -159
  -167
New CAPEX, $m
  -15
  -41
  -43
  -45
  -48
  -50
  -52
  -54
  -57
  -59
  -61
  -64
  -66
  -69
  -71
  -74
  -77
  -80
  -84
  -87
  -91
  -94
  -98
  -103
  -107
  -112
  -117
  -122
  -128
  -134
  -140
Cash from investing activities, $m
  -15
  -62
  -66
  -71
  -77
  -82
  -87
  -93
  -99
  -105
  -110
  -117
  -123
  -131
  -137
  -145
  -152
  -160
  -169
  -178
  -187
  -196
  -206
  -218
  -228
  -240
  -252
  -265
  -279
  -293
  -307
Free cash flow, $m
  94
  68
  99
  125
  151
  179
  209
  240
  272
  306
  341
  373
  411
  451
  493
  536
  581
  627
  676
  727
  780
  835
  893
  953
  1,016
  1,082
  1,151
  1,223
  1,299
  1,378
  1,461
Issuance/(repayment) of debt, $m
  224
  -150
  115
  122
  128
  134
  140
  146
  152
  158
  164
  171
  178
  184
  192
  199
  207
  216
  224
  234
  243
  254
  264
  276
  288
  301
  314
  328
  343
  359
  375
Issuance/(repurchase) of shares, $m
  -1
  187
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  84
  37
  115
  122
  128
  134
  140
  146
  152
  158
  164
  171
  178
  184
  192
  199
  207
  216
  224
  234
  243
  254
  264
  276
  288
  301
  314
  328
  343
  359
  375
Total cash flow (excl. dividends), $m
  178
  105
  215
  246
  279
  313
  349
  386
  424
  464
  505
  544
  589
  636
  684
  735
  788
  843
  900
  961
  1,023
  1,089
  1,157
  1,229
  1,304
  1,383
  1,465
  1,552
  1,642
  1,737
  1,837
Retained Cash Flow (-), $m
  116
  -272
  -13
  -14
  -14
  -15
  -16
  -16
  -17
  -18
  -18
  -19
  -20
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -27
  -28
  -29
  -31
  -32
  -33
  -35
  -36
  -38
  -40
  -42
Prev. year cash balance distribution, $m
 
  33
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  -134
  202
  233
  265
  298
  333
  369
  407
  446
  487
  525
  569
  615
  663
  713
  765
  819
  876
  935
  996
  1,061
  1,128
  1,199
  1,272
  1,350
  1,430
  1,515
  1,604
  1,697
  1,795
Discount rate, %
 
  13.50
  14.18
  14.88
  15.63
  16.41
  17.23
  18.09
  19.00
  19.95
  20.94
  21.99
  23.09
  24.24
  25.46
  26.73
  28.07
  29.47
  30.94
  32.49
  34.11
  35.82
  37.61
  39.49
  41.47
  43.54
  45.72
  48.00
  50.40
  52.92
  55.57
PV of cash for distribution, $m
 
  -118
  155
  153
  148
  140
  128
  115
  101
  87
  73
  59
  47
  37
  28
  20
  15
  10
  7
  4
  3
  2
  1
  1
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0

Planet Fitness, Inc. is a franchisor and operator of fitness centers in the United States. The Company operates through three segments: Franchise; Corporate-owned stores, and Equipment. The Franchise segment includes operations related to the Company's franchising business in the United States, Puerto Rico, the Dominican Republic and Canada. The Corporate-owned stores segment includes operations with respect to all corporate-owned stores throughout the United States and Canada. The Equipment segment includes the sale of equipment to franchisee-owned stores. As of December 31, 2016, it had approximately 8.9 million members and 1,313 stores in 48 states, the District of Columbia, Puerto Rico, Canada and the Dominican Republic. Of its 1,313 stores, 1,255 were franchised and 58 are corporate-owned, as of December 31, 2016.

FINANCIAL RATIOS  of  Planet Fitness Cl A (PLNT)

Valuation Ratios
P/E Ratio 151.1
Price to Sales 8.8
Price to Book -25.4
Price to Tangible Book
Price to Cash Flow 30.5
Price to Free Cash Flow 35.4
Growth Rates
Sales Growth Rate 14.2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -21.1%
Cap. Spend. - 3 Yr. Gr. Rate 16.5%
Financial Strength
Quick Ratio 6
Current Ratio 0
LT Debt to Equity -535.9%
Total Debt to Equity -541.2%
Interest Coverage 5
Management Effectiveness
Return On Assets 4.8%
Ret/ On Assets - 3 Yr. Avg. 6.8%
Return On Total Capital 4.2%
Ret/ On T. Cap. - 3 Yr. Avg. 5.1%
Return On Equity -30.1%
Return On Equity - 3 Yr. Avg. 5%
Asset Turnover 0.4
Profitability Ratios
Gross Margin 51.9%
Gross Margin - 3 Yr. Avg. 48.9%
EBITDA Margin 38.6%
EBITDA Margin - 3 Yr. Avg. 34.1%
Operating Margin 30.4%
Oper. Margin - 3 Yr. Avg. 24.9%
Pre-Tax Margin 23.8%
Pre-Tax Margin - 3 Yr. Avg. 17.2%
Net Profit Margin 5.8%
Net Profit Margin - 3 Yr. Avg. 8.3%
Effective Tax Rate 21.1%
Eff/ Tax Rate - 3 Yr. Avg. 14.3%
Payout Ratio 768.2%

PLNT stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the PLNT stock intrinsic value calculation we used $378 million for the last fiscal year's total revenue generated by Planet Fitness Cl A. The default revenue input number comes from 2016 income statement of Planet Fitness Cl A. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our PLNT stock valuation model: a) initial revenue growth rate of 12.6% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 13.5%, whose default value for PLNT is calculated based on our internal credit rating of Planet Fitness Cl A, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Planet Fitness Cl A.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of PLNT stock the variable cost ratio is equal to 15.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $211 million in the base year in the intrinsic value calculation for PLNT stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 4% for Planet Fitness Cl A.

Corporate tax rate of 27% is the nominal tax rate for Planet Fitness Cl A. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the PLNT stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for PLNT are equal to 85.3%.

Life of production assets of 15.6 years is the average useful life of capital assets used in Planet Fitness Cl A operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for PLNT is equal to -6.6%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $-131 million for Planet Fitness Cl A - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 99.047 million for Planet Fitness Cl A is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Planet Fitness Cl A at the current share price and the inputted number of shares is $3.3 billion.

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COMPANY NEWS

▶ Planet Fitness to Present at the 2018 ICR Conference   [Jan-08-18 04:01PM  PR Newswire]
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▶ Planet Fitness: Cramer's Top Takeaways   [06:46AM  TheStreet.com]
▶ Can These Fitness Stocks Shape Up Your Portfolio?   [Jan-04-18 07:33PM  Motley Fool]
▶ How To Size Up These 2 Hot Fitness Stocks: Investing Action Plan   [Jan-03-18 04:44PM  Investor's Business Daily]
▶ Deep value is 'un-Amazonable': Cowen analyst   [Dec-19-17 01:45PM  CNBC Videos]
▶ [$$] TSG Backs Planet Fitness Franchisee, Huda Beauty   [Dec-14-17 01:32PM  The Wall Street Journal]
▶ 3 Stocks That Look Just Like Home Depot in 1981   [Dec-02-17 10:30AM  Motley Fool]
▶ Planet Fitness Earns Relative Strength Rating Upgrade   [03:00AM  Investor's Business Daily]
▶ Strong Comps Growth Lifts Planet Fitness, Inc. Earnings   [Nov-08-17 07:31PM  Motley Fool]
▶ Planet Fitness tops Street 3Q forecasts   [04:21PM  Associated Press]
▶ Planet Fitness Announces Leadership Appointments   [Oct-24-17 08:30AM  PR Newswire]
▶ Carnival Shows Rising Relative Price Performance; Still Shy Of Key Benchmark   [Sep-27-17 03:00AM  Investor's Business Daily]
▶ Leading Stocks Like Grubhub Fuel This Mutual Fund's Rebound   [Sep-25-17 07:55AM  Investor's Business Daily]
▶ Most Costco Members Don't Shop at Costco All That Much   [Sep-18-17 07:03AM  Motley Fool]
▶ Stocks With Rising Relative Price Strength: Herc   [03:00AM  Investor's Business Daily]
▶ 3 Biggest Opportunities for Planet Fitness, Inc.   [Sep-07-17 07:33PM  Motley Fool]
▶ Why Planet Fitness, Inc. Climbed 12% in August   [Sep-05-17 02:49PM  Motley Fool]
▶ Which Companies Are Now Outperforming 95% Of All Stocks?   [Aug-28-17 11:03AM  Investor's Business Daily]
▶ Floyd Mayweathers next boxing challenge   [Aug-24-17 10:20AM  Yahoo Finance Video]
▶ Yahoo Finance Live: Market Movers - Aug 24th, 2017   [07:20AM  Yahoo Finance Video]
▶ Planet Fitness Stock: Next Stop, $27?   [Aug-21-17 12:06PM  Motley Fool]
Financial statements of PLNT
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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